First Independent Mena Newspaper
The Egyptian government has slammed New York-based Blomberg media and London-based The Economist for their critical reports on the Egyptian economy, which, they said, is doing poorly due to President al-Sisi’s incapacity to drive the country out of the difficult economic situation it has been facing since 2011. Blomberg’s editorialist on Tuesday put the economic […]
The International Monetary Fund (IMF) recently reached an initial agreement to lend $12 billion to Egypt to bolster an economy battered by years of unrest, a move that was denounced by some activists who see the loan terms will further cripple the Egyptian economy. A letter by a number of political groups and figures was […]
Speaking at a youth forum on leadership, President Sisi informed Egyptians that the government will be introducing austerity measures when it finalizes a $12billion three-year loan agreement, probably before the end of the month, with the International Monetary Fund (IMF). For the president, “the problem is whether the public opinion is prepared to accept the […]
An International Monetary Fund delegation is expected in Cairo this weekend to discuss a multibillion-dollar support program for cash-strapped North African country. The Egyptian economy has been hit badly by terror attacks and political unrests. The country has been suffering from severe foreign currency shortage since the beginning of the year. This was mainly because […]
The Executive Board of the International Monetary Fund (IMF) approved on July 22 a two-year arrangement for Morocco under the Precautionary and Liquidity Line (PLL) for 3.47 billion dollars. The new PLL arrangement will provide Morocco with useful insurance against external shocks as the authorities pursue their reform agenda aimed at further strengthening the economy’s […]
The International Monetary Fund (IMF) raised its 2016 growth forecast for the Middle East and North Africa on the backdrop of a slight increase in oil prices, but maintained its cautious outlook for Saudi Arabia. The Washington-based Fund said in its July 2016 World Economic Update report that the Middle East, along with Pakistan and […]
Egypt could secure up to $10 billion from the International Monetary Fund (IMF) by agreeing to a structural reform program, the central Bank said on Monday. The announcement follows an earlier comment by a cabinet minister on Monday that Egypt had last week started negotiations with the IMF for a $5 billion loan. Since the […]
The Speaker of the Tunisian parliament, Mohammed Ennaceur, denied reports that Tunis has approved the deployment of a military base in the country after it was designated as a major non-NATO ally of the US by President Obama. Speaking to Russia Today, Ennaceur claimed the reports are “not true” because “there are no such plans.” […]
The International Monetary Fund (IMF) has approved a $2.9 billion Extended Fund Facility (EFF) for Tunisia to help the country carry out its economic and financial reform program. This program aims at promoting stronger and more inclusive growth by consolidating macroeconomic stability, reforming public institutions, facilitating financial intermediation and improving the business climate. According to […]
Deputy Crown Prince Mohammed bin Salman announced Monday a large-scale reform plan dubbed Vision 2030 meant to restructure the kingdom’s economy and ministerial departments, reform the educational system, and give long term residency permits to foreigners, among others. Yet, the most outstanding announcement he made is the creation of a $2 trillion Sovereign Wealth Fund […]